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Cancana
Resources Corp. (TSX VENTURE:CNY - News; the
"Company" or "Cancana")
announces the staking of additional tenures at its Dash Property in Lillooet,
British Columbia, Canada.
Cancana
has acquired through staking, an additional 1,300 hectares of mineral tenures
to bring its total holdings at Dash to 4,777 hectares. Cancana
will earn a 100% interest in the Dash Property under an Option Agreement with
a privately held company. Cancana will issue a
further 306,000 shares to the private company and complete at least $626,000
in work on the Dash Property by December 31, 2011.
The
Dash Property is located 105 kilometres northwest
of Lillooet, B.C. and has potential for gold, silver and zinc mineralization.
Cancana
has also obtained a drill permit for the Dash Property and is proceeding with
plans for at least 11 drill holes as recommended by an N.I. 43-101 Report
dated October 12, 2009 and available on Cancana's
web-site: www.cancanacorp.com
In
2009 Cancana was able to complete 413.45 meters of
drilling prior to forest fires encroaching during a difficult fire season in
this region of B.C. Historical drill results, as reported in the NI 43-101
include:
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DDH82-1
1.52 meters of 10.3 gm/t Au
Within the 65M zone
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RYC001
5.6 meters of 1.46 gm/t Au
Within the Spine zone
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RYC006
2.73 meters of 2.24 gm/t Au
Within the 75M zone
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In
2009 rock chip samples of note:
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Dash09AR-24
2.8 meters of 1.1 gm/t Au,
From the 75M zone
1.9 gm/t Ag and .06% Zn
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Dash09AR-27
0.3 meters of 10.2 gm/t Au,
From the 75M zone
47.9 gm/t Ag and .07% Zn
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The
two drill holes in 2009 were in the Spine zone:
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09 DDH-1
4 meters of .7 gm/t Au, .4 gm/t Ag From 123 to 127
and .29%
Zn
meters depth
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09 DDH-2
6 meters of 1.4 gm/t Au, .2 gm/t Ag From 24 to 30
and .03% Zn
meters depth
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Andris
Kikauka, P. Geo., a Qualified Person with respect
to National Instrument 43-101 has reviewed and approved this News Release.
Cancana,
formerly Sola Resource Corp., is an exploration stage company with assets in
Brazil and Canada, has primarily focused on diamond, manganese and gold
resource properties. Recently the Company has been seeking projects that
expand its resource base and provide for near term production and revenue.
All available resource reports and information on the Company's properties
are located on the Company website.
Cancana
continues to provide shareholders with Investor Updates, please ensure that
you have already registered on the company website, if not please visit
www.cancanacorp.com and input your name and email address on the home page.
Issued
on behalf of the Board of Directors of Cancana
Resources Corp.
Dr.
William (Bill) Pfaffenberger, CEO and Director
The
information in this news release may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. When used in this release, words
such as "estimate", "expect", "anticipate" and
"believe" as well as similar expressions are intended to identify
forward-looking statements. Such statements are used to describe management's
future plans, objects, and goals for the Company and therefore involve
inherent risks and uncertainties. The reader is cautioned that actual
results, performance or achievements may be materially different from those
implied or expressed in such statements, which speak only as of the date the
statements were made. The Company does not update forward-looking statements
continually as conditions change. We seek safe harbour.
Neither
the TSX Venture Exchange nor its Regulation Service Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
Contact:
www.cancanacorp.com
Cancana Resources Corp.
403 269 2065
cancana.ir@cancanacorp.com
(preferred)
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